Thailand named most popular hospitality investment market in Asia
Thailand was voted the most popular hospitality investment market in Asia by industry and investment executives who attended the fifth annual Asia Pacific Hotel Investment Conference last week, followed by Cambodia, Myanmar, Indonesia Vietnam and the Philippines.
The result came in a survey conducted by Questex Hospitality Group during the conference, held at Bangkok?s Dusit Thani Hotel. Somsak Pureesrisak, Thailand’s minister of tourism and sports, delivered the welcome address.
Chanin Donavanik, managing director and CEO of Dusit International who delivered the keynote address, said, ?Without a doubt, the travel and tourism industry is growing throughout Asia with more and more travelers from the region and elsewhere moving around than ever. For Thailand to be regarded as an alluring investment option at the center of all this activity is surely a sign of exciting times ahead.?
Following the recent wave of early termination of hotel management contracts in both the US and China recently, there was also a fiercely-contested yet friendly debate on the second day of the conference, for and against the motion ?Hotel Owners Bear All the Risks while Operators Reap All the Rewards from the Agency Relationship between them.? The audience was given a chance to vote regardless of their affiliation, with 78 percent of participants voting for the motion.
Conference delegates included Dr Aron Harilela, Chairman and CEO of Harilela Hotels; Deepak Ohri, CEO of Lebua Hotels and Resorts; Ricco de Blank, CEO of Sun Hung Kai Properties; Alessandro Fiascaris, a principal in Blackstone’s Real Estate group; Steve Carroll, national director asset management at LaSalle Investment Management; Gerald Yong, CIO for The Ascott Limited; and Mohd K. Rafin, chief corporate officer of Park Hotel Group.
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